Skandinaviska Enskilda Banken AB publ Acquires 3,404 Shares of CGI Inc. (NYSE:GIB)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 12.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,967 shares of the technology company’s stock after acquiring an additional 3,404 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in CGI were worth $3,091,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of CGI during the first quarter valued at $30,000. UMB Bank n.a. boosted its position in CGI by 9,916.7% in the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after buying an additional 595 shares during the period. CWM LLC increased its position in shares of CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after acquiring an additional 190 shares during the period. Tidal Investments LLC bought a new stake in CGI during the 1st quarter valued at $226,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of CGI in the 1st quarter worth $228,000. Institutional investors own 66.68% of the company’s stock.

CGI Stock Down 0.9 %

Shares of GIB stock opened at $112.76 on Monday. The stock’s fifty day moving average price is $109.95 and its 200 day moving average price is $106.71. CGI Inc. has a 1-year low of $93.07 and a 1-year high of $118.89. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. On average, research analysts expect that CGI Inc. will post 5.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GIB. Jefferies Financial Group lifted their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group started coverage on shares of CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Finally, Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.67.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.